New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1887-07-04
MONEY md BUSINESS.

The weeks returns of trade and industry are
generally favorable. The time of stringency
Anticipated in connection with half-yearly pay
ments has passed without serious embarrass-
ment. A corner in June wheat and further
liquidation in the stock market nave caused
little disturbance the settlement OF important
labor controversies has removed really serious
impediments to prosperity, and the certainty
that some money is on its way from Europe in-
creases confidence.
The rally IN stocks early in the week was not
continued, but the later uncertainty, by many
attributed to unfinished liqudations, might
have been caused by the monetary stringency.
Prices closed 30 cents per share higher than n
week ago, but with important changes In par
ticuar securities, some for the better and some
for the worse There are people VINO look for
great purchases OF securities after the disburse-
ment of $6O, 100000 or more III half-yeary
interest and dividends. But large payments
are vet to be made on account OF Eastern IN
vestments in Western and Southern real
estate. and in the building operations which
have been so remarkably swelled by the specu-
| IatIye excitement. Figures are published show
| ing that, in less than half the cities OF the
| country in population and only thirty-five in
| number, the investment in buildings during
the first five months of the year was over
| 800. 900, 900, or about per cent OF the as
sessed valuation of all real estate in those
cities. If building should continue at all points
| and at the same rate for year, 1t would in
yolve an investment of $780, 100000. While
no such outlay is to be expected the figures give
some idea of the magnitude of expenditures
actually in progress
The wheat speculation at New-YOrk would
not subside without affecting foreign trade as
far as it could, and so the price was hOisted
above 81 in the closing days of June, to cash
| buyers suspected of having options to fill.
| Prior to last week large exports had resulted
from the break in prices, and for four weeks
the exports from chief Atlantic ports alone had
reached 1912 OLA bushels and 760,753 bar
rels Now that the price has settled down
| again. it appears that drOuth at the West has
| done some injury to wheat, though 1t is not
quite true that every green thing has been
burned up. In parts of the spring wheat region
the yield must depend largely upon the weather
| for the next few weeks. By taking pains, as
usual, to ignore about 50,000.00G bushels of
old wheat as so much imaginary reserve"
and combining attention to the new crop exclu-
slvely. spectators may yet mako the drouth
extensive enough for their purposes. whether
it amounts to much otherwise or not.
The amicable settlement of differences be-
tween employers ana employed In Western iron
mills on the basis OF q ten per cent advance.
happens to contrast forcibly with dispatches
stating that reduction has been ordered or work
stopped in several Eastern mills The long
delay in relighting the coke works, with fail
ure to obtain proper fuel for some new works
at the South. lessons for "a time the output OF
| iron, and the market is more firm and hopeful
without any change in prices. Wool manu-